EGOTH Targets EGP 2 billion Net Profit in 2026–2027 Budget, with EGP 4.5 billion Investments to Drive Hotel and Tourism Expansion
Asset Development, Portfolio Growth, and Competitiveness Enhancement… Major Tourism and Hotel Projects Underway in Cairo, Luxor, Alexandria, the North Coast, and Port Said
The General Assembly of the Egyptian General Company for Tourism and Hotels (EGOTH), a subsidiary of the Holding Company for Tourism and Hotels, has officially approved the estimated budget for the fiscal year 2026–2027. The meeting was chaired by Mr. Mohamed Maged El-Menshawy, Chairman of the Holding Company for Tourism and Hotels, and was attended by Mr. Amr Attia, Managing Director of the Holding Company; Eng. Hamdy Rashad, Chairman of EGOTH; Mr. Hisham El-Demiry, CEO of EGOTH; alongside board members of both entities and representatives of the Central Auditing Organization (CAO).
The approved estimated budget reveals that EGOTH is targeting a net profit of approximately EGP 2 billion, with total revenues projected at roughly EGP 3.2 billion—reflecting a strategic commitment to reinforcing financial performance and maximizing shareholder returns. Additionally, an investment budget of EGP 4.5 billion was approved to execute major expansion initiatives, develop existing assets, and integrate new ones, thereby strengthening the company’s competitive edge in the tourism and hospitality market. These efforts are firmly aligned with EGOTH’s overarching strategy to preserve and enhance its asset portfolio, optimize economic yields, and elevate the global competitiveness of Egypt’s tourist destinations.
At the forefront of these strategic projects, the company continues its dedicated efforts to revive the historic “Continental” hotel in the heart of Khedivial Cairo. This flagship project aims to restore the distinguished architectural splendor of the hotel, which dates back to 1870, and will mark the debut of the global “Taj” brand in the Egyptian market for the first time, under a management agreement with The Indian Hotels Company Limited. In parallel, development work is progressing steadily on the legendary “Shepheard” hotel to solidify its standing as an iconic Nile-front hospitality landmark.
The 2026/2027 investment plan also features a comprehensive portfolio of high-impact projects. Key highlights include coastal expansion through the development and modernization of the “Retac” hotels in Dahab and Al-Arish, new expansion works at the “Ora” hotel on the North Coast, and the renovation of the “Jet Beach” hotel in Ain Sokhna. Furthermore, the plan encompasses mixed-use developments, such as the construction of an integrated (hotel, residential, commercial, and administrative) complex in Port Said Governorate, the launch of a hotel project at the Egypt Tourism Tower in Al-Abbassiya, and the finalization of tourism-oriented utilization of the “Qasr El Qoton” (Cotton Palace) building in Alexandria, pending the completion of outstanding legal settlements.
These ambitious plans underscore the unwavering commitment of both the Holding Company for Tourism and Hotels and EGOTH to advancing Egypt’s tourism and hospitality sector, expanding the investment portfolio, and strategically leveraging both historic and modern assets to meet the evolving demands of domestic and international markets. Ultimately, these efforts are designed to reinforce and cement Egypt’s stature as a premier, world-class tourist destination.